- PRICING STRATEGY: PRICE SKIMMING!
- PRICING STRATEGY: GIVING YOUR PRODUCT/SERVICE FOR FREE
- SHOULD WE COMPARE OURSELVES?
- WHAT SHOULD WE MEASURE WHEN WE EVALUATE OUR MARKETING EFFORTS?
- WHAT IS THE VALUE OF A CUSTOMER?
- DOES CONTENT MARKETING WORK?
- WHAT IS THE DIFFERENCE BETWEEN A BRAND, BRANDING, A PERSONAL BRAND AND A COMPANY/PRODUCT NAME?
- WHAT IS GROWTH HACKING?
- HOW MANY « P » CAN BE FOUND IN THE MARKETING MIX?
- THE CUSTOMER VALUE CHAIN
- HOW CAN YOU PROTECT YOUR UNIQUE PRODUCT OR SERVICE?
- CONFERENCE ON FINANCING - MAY 2, 2017
- WHAT IS DRIP PRICING?
- WHICH AMOUNT SHOULD YOU CHOOSE FOR YOUR PRICES?
- DETERMINING YOUR HOURLY RATE BASED ON THE VALUE YOU THINK YOU HAVE
- IS LOWERING YOUR PRICES A GOOD IDEA?
- TO OFFER OR NOT TO OFFER FINANCING?
- HOW TO PROTECT YOURSELF AGAINST EXCHANGE RATE RISKS
- WHEN IS A GOOD TIME TO INCREASE YOUR PRICES?
- DEMAND BASED PRICING
- WHAT IS A LOSS LEADER?
- HOW TO ORGANIZE A DRAW THE RIGHT WAY?
- HOW TO HAVE REMOTE EMPLOYEES
- IS IT GOOD TO BE FIRST IN A MARKET?
- THE THREE TYPES OF CUSTOMERS
- EXPORTING TO MEXICO - QUERETARO REGION
- DEFINING BUSINESS SUCCESS
- ARE YOU USING REBATES? WATCH OUT FOR THESE
- IS THE CUSTOMER ALWAYS RIGHT?
- EXPORTS AND QUEBEC COMPANIES
- COWORKING SPACES
- YOUR PLACE OF BUSINESS AND INTERNET
- WHY IS SOCIAL MEDIA IMPORTANT FOR YOUR BUSINESS?
- HOW TO USE FREEBIES
- WHAT IS THE MAGICAL FORMULA FOR HAVING SUCCESS IN BUSINESS?
- DO YOU HAVE EXPERIENCE IN MY FIELD?
- WHEN CAN WE STOP OUR MARKETING?
- WHAT IS A CALL TO ACTION?
- WE ARE ALL SALESPEOPLE; HERE'S HOW TO GET THERE
- HOW CAN MARKETING AND SALES COLLABORATE?
- HOW TO SELL MORE TO YOUR EXISTING CLIENTS
- WHAT IS CROSS-MARKETING?
- WHY SHOULD I SEGMENT?
- WHO IS RESPONSIBLE FOR MANAGING YOUR COMPANY'S IMAGE?
- HOW TO CHARGE FOR YOUR PRODUCTS / SERVICES?
- HOW TO DEFINE YOUR PRICING STRATEGY: PRICE POSITIONING
- HOW TO DEFINE YOUR PRICING STRATEGY: MARKET PRICING
- WHAT PRICE SHOULD YOU SELL AT? - COST-BASED PRICING
- WHAT IS A PRODUCT?
- HOW TO MARKET YOUR NEW BUSINESS?
- IS BUYING A FRANCHISE A GOOD WAY TO START A BUSINESS?
- HOW SOCIAL MEDIA HAS CHANGED WORD-OF-MOUTH
- HOW SOCIAL MEDIA HAS CHANGED PUBLIC RELATIONS
- WHAT IS BRANDING?
- WHY INCREASING SALES IS NOT THE SOLUTION
- HOW TO SELECT YOUR COMPANY NAME?
- WHY HAVING A WEBSITE IS ONLY THE BEGINNING?
- WHAT IS MARKETING?
- HOW TO MAXIMIZE THE VALUE OF YOUR SOLE PROPRIETORSHIP BUSINESS
- WHY SELLING IN MEXICO?
- LOW COST MARKETING INITIATIVES
- WHY IS PRODUCT DIFFERENCIATION IMPORTANT?
- hOW TO PRESENT OUR COMPANY
- WHAT IS THE DIFFERENCE BETWEEN MARKETING AND PUBLICITY?
- 50% OF YOUR ADVERTISING BUDGET DOES NOT PRODUCE AS MUCH AS THE REST
- RIGHT SELL AND OVER DELIVER
HOW TO MARKET YOUR NEW BUSINESS?
So you finally took the plunge: you’re starting your new business. Congratulations! Now you need clients.
How can you go about finding your first clients? Usually, by promoting yourself in the market around you.
If you were previously employed and soliciting colleagues and other contacts does not land you in trouble because of a non-compete clause that would be the first group to contact.
The second is your close personal network: family, friends and neighbours. They themselves might not be clients, but because they know you, they may very well refer you to opportunities that might be of interest.
The third group would be people you give your business to: think of all the people to whom you give money and that you have a good relationship with. Tell them about what you’re doing. They may know someone, they may be interested themselves or they may agree to let you promote your goods and services to their customer base. Remember; you give your money to these people, and they want to keep you as a customer.
The forth group would be high profile customers that could bring a good amount of visibility to your business. In exchange for that visibility, it may be a good idea to offer your services for less or for free. But on a marketing basis, this only makes sense if this initiative results in the attention of more potential buyers.
Fifth group: networking. Choose your groups carefully; they need to be potential buyers. Also evaluate if this is feasible for your business model - if you sell small ticket items, spending a large amount of time networking for just one sale might not be the best use of your time. If one buyer can buy many items or if the overall transaction price is worth it, then look for events that are organised in your neighbourhood and online.
Lastly, get onto the internet. Most people think that the internet is free or cheap; it isn’t. You have to put in time and effort and as the saying goes; time is money. Things are not necessarily cheap just because you don’t have to put your hand into your pocket. Time spent online is time that you can’t put toward other things. But often when you’re starting out, time is more readily available than when you’re gathering speed. So build your presence on social platforms, get a website going, do some blogging and create content that will get shared. Once your online presence is firmly established, this part of your company can be outsourced.
When you start out, your brand is you; so get your face out there. Once your bases are firm, a branding strategy with a transferable entity become something that makes sense. But at the beginning, people will buy from you. Unless you have a very unique product for which you have exclusive rights, then the product is the brand at the beginning.
Have a great time starting out.
Stéphane Elmaleh-Riel, B.Ed, MBA